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In a This Day in History video, learn that on July 30, 1945, a Japanese submarine struck down the U.S.S. Indianapolis. The ship had just left a military base in the Pacific where uranium and components for the atomic bomb were delivered. The cruiser was traveling alone when two torpedoes struck; 900 men were forced into the water. Unfortunately, at sunrise, sharks began to attack those men in the water, and for three days survivors floated fending off predators. On the 4th day after the attack, survivors were spotted by an American bomber pilot who began a rescue mission; but only 316 men survived.

Johnson signs Medicare into law

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May 24, 2018

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A+E Networks

On this day in 1965, President Lyndon B. Johnson signs Medicare, a health insurance program for elderly Americans, into law. At the bill-signing ceremony, which took place at the Truman Library in Independence, Missouri, former President Harry Truman was enrolled as Medicare’s first beneficiary and received the first Medicare card.

Johnson wanted to recognize Truman, who, in 1945, had become the first president to propose national health insurance, an initiative that was opposed at the time by Congress.

The Medicare program, providing hospital and medical insurance for Americans age 65 or older, was signed into law as an amendment to the Social Security Act of 1935. Some 19 million people enrolled in Medicare when it went into effect in 1966.

In 1972, eligibility for the program was extended to Americans under 65 with certain disabilities and people of all ages with permanent kidney disease requiring dialysis or transplant. In December 2003, President George W. Bush signed into law the Medicare Modernization Act, which added outpatient prescription drug benefits to Medicare.

Medicare is funded entirely by the federal government and paid for in part through payroll taxes. Medicare is currently a source of controversy due to the strain it puts on the federal budget. Throughout its history, the program also has been plagued by fraud—committed by patients, doctors and hospitals—that has cost taxpayers billions of dollars.

Medicaid, a state and federally funded program that offers health coverage to certain low-income people, was also signed into law by President Johnson on July 30, 1965, as an amendment to the Social Security Act.

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